INDIVIDUALS AND ECONOMIC GROUPS' INTERESTS AND BEHAVIOR IN THE ECONOMIC AND POLITICAL DECISION-MAKING PROCESS

Revaz Gvelesiani, Ivane Javakhishvili Tbilisi State University, Tbilisi, Georgia

Published in

EUROPEAN JOURNAL OF BUSINESS RESEARCH
Volume 16, Issue 1, p97-103, June 2016

ABSTRACT

The value system, which is essential in terms of decision-making, is only partially revealed. But this does not mean that the social welfare function is also partially presented. Rather, it concerns the function of the goal which is characteristic of decision-makers. Explicit analysis is the subject to certain goals. The quality of their realization is confirmed by the explanations which are provided in order to know the volatility of popularity. The existing practice enables to maximally realize and test quantified objectives related to order policy. The economic and political decision-making process, as a rule, is organized bureaucratically and hierarchically. Decision-makers have the same relationship with each other. Here, information obtaining has the form of communication process based on labor division. In addition, information is analyzed, summarized and decision-oriented. The actual behavior, oriented to problem-solution, implies that information processing ability, which a decision-maker has, doesn't constrain the global search for possibilities of solutions neither materially nor in time aspect. At the same time, because the search of solutions is delegated to separate entities - it means that the search results should be processed entirely by the decision-maker. Such preconditions are unlikely along with the assumption, according to which the decision-maker, in the first attempt of action, is already fully focused on known ability. To avoid or to delay decision is more understandable, given the decision-maker's claim that the search for possibilities of action is a rational process. This is the aspect with which decisions are assessed, selected and implemented.

Keywords

economic and political decisions, decision-making entities, individuals and economic groups, entities' interests, conflict of interest, contradictions in implementation of decisions.


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